FX.co ★ GBP/USD Sell Bellow Fractal 1.6128 - For October 09/ 2012 (Daily Strategy)

The pound touched 1.60 as a result of a UK trade balance deficit which was higher than it was expected. The psychological level of 1.60 is the last support imagination, since the pair has technical support at 1.5956.

A daily close below 1.60 will be the starting point of the pair’s decline to levels of 1.58. There is probably a rebound above 1.60, until strong resistance at 1.6128. Therefore, it is recommended selling at 1.6128 with targets until 1.5956 (daily fractal).

If you need personal consultation, contact me via e-mail: gerardo.porras@analytics.instaforex.com

If you like my technical analysis, please vote for me, in the portal MT5.com, please login and then vote for me. Thanks.